Business Combinations (Tables)

12 Months Ended

Dec. 31, 2020

Business Combination

Schedule of Consideration Paid

(Dollars in thousands)	Amount
Consideration Paid :
Company stock issued ( 2,557,028 shares )	$	32,705
Cash payment		54,836
Total consideration paid	$	87,541

Schedule of Estimated Fair Value of Acquired Assets and Liabilities Assumed

(Dollars in thousands)	Amount
Assets acquired:
Cash and Cash Equivalents	$	86,340
Securities available for sale		159,369
Net loans		669,682
Interest and dividends receivable		5,394
Bank premises and equipment, net		3,203
Federal Home Loan Bank of New York stock, at cost		1,135
Bank owned life insurance		21,992
Core deposit Intangibles		3,280
Right of Use Asset		9,993
Other assets		22,300
	$	982,688
Liabilities assumed:
Due to depositors:
Non-interest bearing		169,496
Interest-bearing		685,393
Mortgagors' escrow deposits		6,406
Borrowed funds		21,215
Operating lease liability		11,039
Other liabilities		3,108
	$	896,657
Goodwill recorded	$	1,509

Schedule of Supplemental Pro Forma Financial Information

		Actual from Acquisition Date to December 31, 2020 (1)		Unaudited Proforma for the twelve months ended December 31, 2020		Unaudited Proforma for the twelve months ended December 31, 2019
		(Dollars in thousands)
Net interest Income	$	4,159	$	220,153	$	186,894
Non-Interest Income (loss)		(96)		12,142		10,570
Non-Interest Expense		1,657		140,979		125,211
Income Taxes		706		16,084		16,025
Net Income	$	2,256	$	52,659	$	53,973

(1) Non-interest income (loss) includes $0.3 million from loss on sale of securities.